The US hydraulic hose market is projected to grow at a CAGR of 5.0% during the forecast period. The major factor that contributes to the growth of the market includes the growing application of hydraulic hoses in the construction industry coupled with growth in the construction industry. Further, increasing mining operations is accelerating market growth. As per the US Geological Survey (USGS), in 2019, the US mines produced nearly $86.3 billion in minerals in 2019, around $2 billion higher compared to revised 2018 production totals. In 2019, the estimated total value of non-fuel mineral production in the US was $86.3 billion, a rise of 3.0% from 2018.
The growth in the mining industry increasing the demand for mineral dredging which involves the minerals extractions that may have a significant economic value from underwater deposits. The materials that can be extracted from the seabed comprise mineral sands (ilmenite, rutile, zircon), gold, tin (cassiterite), aluminum (bauxite), diamond deposits, and rocks salts. In addition, it includes more standard material covering sand and gravel that are used as aggregates in the construction industry. These dredged aggregates are a potential alternative to land-based sources including quarries. Therefore, the growth in the construction and mining industry will increase the demand for hydraulic hoses and propels the growth during the forecast period.
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US hydraulic hose Market – Segmentation
By Product Type
- Articulated
- Reinforced
- Coiled
- Other (Corrugated)
By Industry
- Agriculture
- Construction & Mining
- Manufacturing
- Others (Pharmaceuticals)
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Company Profiles
- Able Hose & Rubber LLC
- Bridgestone Corp.
- Continental AG
- Eaton Corporation plc
- Gates Industrial Corporation plc
- Kuriyama of America, Inc.
- Parker-Hannifin Corp.
- Semperit Group
- Trelleborg AB
- The Yokohama Rubber Co., Ltd.
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